Aten Papers & Foam Limited , a company in the paper industry, has made significant changes to its leadership and compliance team. The company's Board of Directors has approved two key appointments that are set to shape its financial strategy and regulatory compliance.

New Statutory Auditor Appointment

The Board has approved the appointment of M/s. Alvi Associates as the company's statutory auditor for the financial year 2025-26. This appointment is subject to shareholder approval, which must be obtained within three months from the date of the Board's decision.

Chief Financial Officer Appointment

In addition to the new auditor, the Board has also appointed Mr. Zuned Lakhani as the company's new Chief Financial Officer (CFO), effective November 25, 2025.

Key Details of the Appointments

To provide a clear overview of these appointments, here's a summary table:

Impact and Outlook

The appointment of M/s. Alvi Associates as the statutory auditor underscores Aten Papers & Foam Limited's commitment to maintaining high standards of financial reporting and compliance. The selection of an experienced auditing firm is crucial for ensuring transparency and building investor confidence.

Mr. Zuned Lakhani's appointment as CFO is particularly noteworthy. With over 15 years of experience in the paper industry, Mr. Lakhani brings a wealth of sector-specific knowledge to the role. His expertise is expected to be instrumental in shaping the company's financial strategy, potentially leading to improved operational efficiency and financial performance.

These appointments come at a time when companies are increasingly focusing on strong financial leadership and robust auditing practices. For Aten Papers & Foam Limited, these changes may signal a renewed focus on financial stewardship and strategic growth in the competitive paper industry.

Shareholders and market observers will likely be watching closely to see how these new appointments influence the company's financial reporting, strategic decisions, and overall performance in the coming fiscal year.

Aten Papers & Foam Limited , a company specializing in paper and foam products, announced that its statutory auditor, M/s. Milind Niyati Co. LLP, has resigned effective November 14, 2025. The resignation comes amidst a backdrop of increasing workload for the auditing firm.

Reasons for Resignation

The primary reason cited for the resignation is the auditor's preoccupation with other work assignments. This decision highlights the growing demands on auditing firms and the need for careful management of client portfolios.

Completion of Current Obligations

Despite the resignation, M/s. Milind Niyati Co. LLP has fulfilled its immediate responsibilities to Aten Papers & Foam Limited. The firm completed and submitted the limited review report for the half year ended September 2025 before tendering its resignation.

Clean Exit

It's noteworthy that the departing auditor raised no concerns regarding the company's management in their resignation. This suggests an amicable separation and indicates that there were no outstanding issues or disagreements between the auditor and the company's management at the time of departure.

Implications for the Company

Aten Papers & Foam Limited will now need to appoint a new statutory auditor to ensure continued compliance with regulatory requirements. This change in auditors may bring a fresh perspective to the company's financial reporting processes.

Looking Ahead

As the company navigates this transition, stakeholders will be keen to see how smoothly Aten Papers & Foam Limited manages the change in auditors and whether there will be any impact on its financial reporting timelines or processes.

The resignation of a statutory auditor, while not uncommon, is always a significant event for a publicly listed company. It will be important for Aten Papers & Foam Limited to manage this transition effectively to maintain investor confidence and ensure continuity in its financial reporting obligations.